Tila Tequila, who starred in the reality TV series A Shot At Love, is hosting her own New Years Eve special on MTV. The special will be a masquerade party called Tila Tequila’s New Years Eve Masquerade 2008. The show airs live from MTV’s Times Square studio on Monday, December 31st from 11PM ET to 12:30AM ET.

Joining Tila Tequila in hosting the special will be MTV VJs Damien Fahey and Lyndsey Rodrigues. Cast members of A Shot At Love will be dropping by to help Tila celebrate. There will also be an audience masked in masquerade attire, and house DJ Travis of Gym Class Heroes who will spin tunes. Mary J. Blige, Kid Rock, Fabolous, Paramore, Good Charlotte, Wyclef, Boys Like Girls, and Flo Rida will give performances.

Entertainment blogger Perez Hilton will also be hosting his own purple carpet with celebrity interviews. Perez will also provide commentary on celebrity rehab, 2007 breakups, and make some outrageous predictions for 2008.